The normally sleepy world of investment trusts received a wake-up call just before Christmas with the publication (18 December 2024) of a shareholder letter by activist investor Saba Capital Management calling for change at no fewer than seven well-known funds.Set up by hedge fund manager Boaz Weinstein, Saba has a history of successfully instigating change, and while critics argue its proposals a

London stocks traded mixed on Friday, while market participants digested US jobless claims data suggesting resilience in the American economy and kept one eye on data releases due out in the afternoon.The FTSE 100 index was marginally higher, by 0.040 points, at 8,137.03. The FTSE 250 was down 70.18 points, 0.3%, at 20,501.33, and the AIM All-Share was down 0.22 points at 717.18.The Cboe UK 100 wa

A mixed close for London equities on Monday highlighted increasing concerns about the UK economy, with businesses bracing for a sharp slowdown and consumer confidence sliding further.The FTSE 100 index closed up 18.11 points, 0.2%, at 8,102.72. The FTSE 250 ended down 31.60 points, 0.2%, at 20,419.09, and the AIM All-Share closed up 1.84 points, 0.3%, at 712.44.The Cboe UK 100 ended up 0.1% at 812

The FTSE 100 in London edged into the green on Monday at midday despite a downcast morning of economic data announcements.In London, the FTSE 100 index was up 10.02 points, 0.1%, at 8,095.11. The FTSE 250 was down 49.10 points, 0.2%, at 20,401.59, and the AIM All-Share was up 0.87 of a point, 0.1%, at 711.47.The Cboe UK 100 was up 0.1% at 812.51, the Cboe UK 250 was down 0.3% at 17,888.41, and the

Next year should prove a sweet one for Treatt (TET) and its shareholders. The extracts-to-ingredients supplier has the recipe for long-term growth and many of the hallmarks of a high-quality company including an unwavering focus on innovation, strong cash generation and double-digit returns on both equity and capital employed.Well-placed to profit as its end-markets recover from an unhelpful spell

Stocks in Europe were mostly higher at midday Wednesday, with UK inflation reaching an eight-month high but not forcing 'shares in interest rate-sensitive sectors' to retreat.In UK and European news, the UK consumer prices index rose by 2.6% in the year to November, picking up pace from a 2.3% rise in year to October and in line with FXStreet-cited market consensus. The closely watched CPI service

Saba's investment totals £1.5 billionSix of the seven trusts underperformedCompany proposes sacking directorsThe normally-sleepy world of investment trusts received a wake-up call this morning with the publication of a shareholder letter by activist investor Saba Capital Management calling for change at no fewer than seven well-known funds.The firm, which has a history of successfully instigating

Stocks in London were in the green on Wednesday morning, as investors prepare for eurozone inflation data and the US interest rate decision this afternoon.UK consumer price inflation and producer price inflation data came out before the London open.According to the Office for National Statistics, the consumer prices index rose by 2.6% in the 12 months to November, picking up pace on-month from a 2

Price raised 10% to 275p/shareObvious synergies between companiesCould lead to 'more rational pricing'Shareholders in insurer Direct Line (DLG) enjoyed a small lift in the value of their holdings heading into the weekend after the firm received a raised takeover offer from larger rival Aviva (AV.).Direct Line shares climbed 16p or 7% to 252p, some 25p or 10% shy of the 275p price implied by the ca

The FTSE 100 index closed up on Thursday, with AstraZeneca shares rising on US FDA approval of its Imfinzi treatment.Also on Thursday, UK Prime Minister Keir Starmer promised a 'relentless focus on delivering for working people' ahead of a major speech setting out targets to measure progress on his government's plans.AJ Bell's Danni Hewson noted: 'The prime minister today said that households will

250p offer equals a 60% premiumBoard calls it 'highly opportunistic'Analyst suggests 270p valuationMotor and home insurer Direct Line Insurance (DLG) received its third bid of 2024 with larger UK rival Aviva (AV.) pitching a 250p cash-and-shares after the closing bell last night.Direct Line shares jumped 59p or 37% to 218p, more than reversing their losses year-to-date and leaving them at a six-mo

A global enterprise applications gorilla, Salesforce (CRM:NYSE) has spent 2024 (and 2023) trying to rebuild profit margins after activist investor StarboardValue started kicking up a stink. Net profit margins had sunk to low single digits during the pandemic, which might be understandable, but why were they not recovering, was StarboardValue's reasonable question.It seems to have done the trick, w

Associated British Foods (ABF)Price: £21.93Market cap: £16.1 billionAs the proverb says, mighty oaks from little acorns grow, and that has certainly been the case for conglomerate Associated British Foods (ABF), which has transformed itself from a single bakery in 1935 to a group of market-leading food and clothing businesses.Best-known for its Primark low-cost fashion stores, which are a featur

We begin proceedings with two takeover approaches, one successful, the other less so, for now at least.First, Swiss bourse operator SIX agreed to buy UK junior marketplace Aquis Exchange (AQX:AIM) for 727p in cash, representing a 120% premium to the previous closing price of 330p.SIX, which operates the Swiss and Spanish stock markets, called the deal 'a compelling strategic opportunity which will

If it seems as though each week brings news of yet another takeover offer for a UK firm, the actual figures from the ONS (Office for National Statistics) are quite mind-boggling.Aside from the number of listed companies being bought, either by 'inward' investors or domestic buyers, hundreds of privately-owned firms are being snapped up every quarter.If you are in a position where a company you own

Strong trading in four months to OctoberFull year profit to meet expectationsEfficiency gains to drive profitabilityAnimal genetics specialist Genus (GNS) jumped 4% after reporting strong trading for the four months to 31 October and reiterating full year profit guidance.The shares are down around 20% over the last year following a profit warning in February 2024, reflecting weak pork prices in Ch

First half revenue up 27%Strong start to second halfBudget impact of £11 millionPubs and hotels group Young & Co (YNGA:AIM) delivered strong like-for-like revenue growth in the first half to 30 September and said recent trading has been strong with an acceleration in like-for-like growth.Investors gave the company the thumbs-up, marking the shares higher by 18.8p or 2% to 934.8p, though they rema

The FTSE 100 made a tepid start to the week on Monday, ending just about in the green and falling below earlier highs, as caution prevailed ahead of the US presidential election.The FTSE 100 index closed up 7.09 points, or 0.1%, at 8,184.24. The FTSE 250 ended down 18.45 points, or 0.1%, at 20,461.29, and the AIM All-Share closed down 3.63 points, 0.5%, at 735.37.The Cboe UK 100 ended up 0.1% at 8

Fall in third quarter vaccine salesFull year profit reiteratedQ3 dividend of 15p per shareDisappointing vaccine sales took the shine off GSK's (GSK) third quarter update and despite management reiterating full-year sales and profit guidance, the shares sank to the bottom of the FTSE, falling 3.6% to £13.99.The shares languish near one-year lows and sit just 14% above the five-year low, which mean

Shares up 17% over the past year5% rise in third quarter underlying group sales£500 million share buyback completedShares in Pearson (PSON) were up more than 3% to £11.13 as the education media group said it was on track to meet full year expectations in a third-quarter trading update.Underlying group sales growth, adjusted operating profit, interest and tax outlook for 2024 remain in line with